I saw this bit of research from Barclays ... based on spending patterns of avg American earning at least $150,000 per year, the new and improved Platinum card will have rewards worth 1.48%. For a $550 fee, that is not so hot. Even if it is better than the current return of 1.22%.

Compare that to the Citi Prestige, which he estimated the reward rate to be 1.78%. Which is better. But why not just get the no fee Double Cash card?

But then the Sapphire Reserve is estimated to have a rewards rate of 2.06%.

But let's not forget the long list of perks offered by the Platinum card, from companion tickets to hotel stays. And on and on. If you take those into account, you are definitely getting your moneys worth. And probably coming out ahead of the CSR and Prestige cards.

Amex still is dominant for business users. And those business users like to roll those rewards into their personal travel. So I think Amex will always have a place for the high end users.

Plus, as stated above, the perks besides rewards points are the real value with the Platinum card. So really what is the difference in rewards values worth fractions of a cent per transaction in that context?